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Jun 30, 2025
Sea Q2 2025 Earnings Report
Sea reported strong Q2 2025 results with robust revenue and profit growth across all segments.
Key Takeaways
Sea delivered a strong quarter driven by record-breaking performance from Shopee, significant expansion in digital financial services, and sustained momentum in digital entertainment.
Total revenue reached $5.26B, up from $3.81B last year.
Net income rose to $414.2M from $79.9M in Q2 2024.
Shopee hit 3.3B orders with $29.8B in GMV.
Garena bookings reached $661.3M with user growth and monetization gains.
Revenue by Segment
Forward Guidance
Sea remains optimistic for continued growth, particularly in gaming and financial services, while prioritizing profitability and platform expansion.
Positive Outlook
- Free Fire expected to deliver over 30% YoY bookings growth.
- Shopee remains market leader in Brazil by order volume.
- Shopee continues operating profitably while growing fast.
- Monee maintains high asset quality with prudent credit management.
- Raised full-year guidance for digital entertainment segment.
Challenges Ahead
- Provision for credit losses increased significantly YoY.
- Sales and marketing expenses rose sharply to support growth.
- Share of losses from equity investees impacted net income.
- High investment in logistics and infrastructure continues to weigh on margins.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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